08.02.01
Revlon Inc. today reported a wider second-quarter loss even though product launches and advertising boosted sales slightly. The maker of Revlon and Almay cosmetics, Flex shampoo and other personal-care products said its loss from ongoing operations was $18.6 million, or 36 cents per diluted share, compared with a year-earlier loss of $16.1 million, or 31 cents per share. Analysts' loss estimates ranged from 22 cents to 59 cents a share, with a mean of 38 cents, according to data tracker Thomson Financial/First Call.
Revlon is struggling to reverse a string of losses with a restructuring plan that includes new products, new and increased advertising and a new cost structure. Sales from ongoing operations increased to $330.4 million from $325.1 million a year earlier. In the U.S. and Canada, sales increased to $227.3 million from $213.2 million, offsetting a decline in international sales to $103.1 million from $111.9 million.
Revlon also reported a set of results that exclude restructuring and additional consolidation costs. On that basis, the second-quarter loss was $26.2 million, or 51 cents per diluted share, compared with a year-ago net loss of $19.5 million, or 38 cents per share, which includes results of the Plusbelle business divested in May 2000.
Revlon is struggling to reverse a string of losses with a restructuring plan that includes new products, new and increased advertising and a new cost structure. Sales from ongoing operations increased to $330.4 million from $325.1 million a year earlier. In the U.S. and Canada, sales increased to $227.3 million from $213.2 million, offsetting a decline in international sales to $103.1 million from $111.9 million.
Revlon also reported a set of results that exclude restructuring and additional consolidation costs. On that basis, the second-quarter loss was $26.2 million, or 51 cents per diluted share, compared with a year-ago net loss of $19.5 million, or 38 cents per share, which includes results of the Plusbelle business divested in May 2000.